Immix Biopharma (NASDAQ:IMMX) Stock Jumps 6.3% – What’s Next?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s stock price was up 6.3% during mid-day trading on Tuesday. The stock traded as high as $8.46 and last traded at $8.7390. Approximately 45,095 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,321,504 shares. The stock had previously closed at $8.22.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IMMX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a report on Thursday. Morgan Stanley restated an “overweight” rating on shares of Immix Biopharma in a research note on Tuesday. Needham & Company LLC raised their price target on shares of Immix Biopharma from $21.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Mizuho raised their price target on shares of Immix Biopharma from $15.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, September 15th. Finally, Citigroup reiterated a “market outperform” rating on shares of Immix Biopharma in a research note on Wednesday, September 30th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Immix Biopharma has an average rating of “Moderate Buy” and a consensus target price of $24.29.

Immix Biopharma Trading Up 5.8%

The firm has a market capitalization of $622.04 million, a PE ratio of -9.88 and a beta of 0.24. The business’s 50 day simple moving average is $11.71 and its two-hundred day simple moving average is $10.22.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). As a group, equities research analysts anticipate that Immix Biopharma, Inc. will post -0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jupiter Topco LLC purchased a new stake in Immix Biopharma in the 2nd quarter worth approximately $100,816,000. Janus Henderson Group PLC lifted its holdings in Immix Biopharma by 22.5% during the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock valued at $43,698,000 after purchasing an additional 880,434 shares in the last quarter. BlackRock Inc. purchased a new position in Immix Biopharma during the second quarter valued at approximately $30,827,000. Opaleye Management Inc. purchased a new position in Immix Biopharma during the second quarter valued at approximately $24,177,000. Finally, Wellington Management Group LLP bought a new position in shares of Immix Biopharma in the second quarter worth approximately $15,191,000. 11.26% of the stock is currently owned by institutional investors.

Immix Biopharma Company Profile

Immix Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing cell therapies for cancer and autoimmune diseases. The company’s research centers on treatments designed to use a patient’s immune system to identify and attack disease-related cells.

Its lead product candidate is NXC-201, an investigational autologous CAR T-cell therapy targeting B-cell maturation antigen (BCMA), a protein found on malignant plasma cells. NXC-201 is being evaluated in clinical studies involving patients with relapsed or refractory AL amyloidosis and multiple myeloma, including the company’s NEXICART-1 study.

Immix Biopharma was founded in 2012 and is based in Los Angeles, California.